Today’s energy market action:
- Oil prices take a step back, dragged lower by falling equity markets.
- Brent declines 0.6%, ending Monday just above US$70/bbl.
- WTI, Canadian Light and WCS also give back about 1%.
Today’s treasury, currency and equity market action:
- China boosts tariffs on US imports, sending markets and bond yields lower.
- Loonie also takes a hit, ending Monday at 74.2 cents.
- Cdn/US energy sectors return to lows of last February.
- Cdn midstream names get a lift from falling bond yields.
Today’s notable energy news:
- Four crude/product tankers attacked in Strait of Hormuz.
- Oilfield services firm Weatherford International files for Chapter 11.
- Transneft‘s 730 kbbl/day Druzhba pipeline restarts clean-crude service.
- Equinor boosts stake in Caesar Tonga oil field, located in US GoM.
- Shell Midstream Partners boosts stake in Explorer and Colonial pipelines.
- Ensign Energy Services post $22M loss …
… but expects to save $40M annually from Trinidad acquisition.
